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<br />EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF ROSEVILLE, MINNESOTA <br /> <br />HELD: September 27, 1999 <br /> <br />Pursuant to due call and notice thereof, a regular meeting of the City Council of <br />the City of Roseville, Ramsey County, Minnesota, was duly held at the City Hall in said City on <br />Monday, the 27th day of September 27, at 6:30 P.M. <br /> <br />The following members were present: Maschka, Mastel, Wi ski & Goedeke. <br /> <br />and the following was absent: Wall. <br /> <br />Member Maschka introduced the following resolution and moved its adoption: <br /> <br />RESOLUTION 9690 <br />RESOLUTION CALLING FOR REDEMPTION OF OUTSTANDING <br />GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 20 <br /> <br />A. WHEREAS, the City Council of the City of Roseville, Minnesota (the <br />"City"), issued on behalf of the City, $2,900,000 General Obligation Improvement Bonds, Series <br />20, dated February 10, 1994 (the "Bonds"), of which Bonds $2,130,000 still remains outstanding; <br />and <br /> <br />B. WHEREAS, all of the said Bonds maturing in the years 2001 to 2009, <br />both inclusive, are subject to redemption and prepayment at the option of the City in inverse <br />order, on March 1,2000, and on any date thereafter at par and accrued interest, all as provided in <br />the resolution of the City Council dated January 24, 1994 authorizing the issuance of said Bonds <br />(the "Resolution"); and <br /> <br />C. WHEREAS, the City Council deems it desirable and in the best interests <br />ofthe City to call all of the Bonds maturing in the years 2007 to 2009, both inclusive, on <br />March I, 2000 in accordance with said Resolution; and <br /> <br />D. WHEREAS, the City Council is not calling Bonds maturing in the years <br />2001 to 2006, both inclusive, at this time; and <br /> <br />986410.1 <br />